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RELATIVELY INELASTIC: An elasticity alternative in which relatively large changes in price cause relatively small changes in quantity. In other words, quantity is not very responsive to price. Relatively inelastic should be compared with other elasticity alternatives--relatively elastic, perfectly inelastic, perfectly elastic, and unit elastic.
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PRICE TAKER A buyer or seller that has no market control and is not able to affect the price of a good. It must "take" or accept the going market price. The market structure that exemplifies price taker is perfect competition. In fact, perfect competition is the only example of price taker. This is one of two alternatives related to control over price. The other is price maker. Price taker is also termed price seeker.
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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time flipping through the yellow pages hoping to buy either a key chain with a built-in flashlight and panic button or a green and yellow striped sweater vest. Be on the lookout for letters from the Internal Revenue Service.
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This isn't me! What am I?
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A scripophilist is one who collects rare stock and bond certificates, usually from extinct companies.
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"You don't have to see the top of the staircase to take the first step.¾ " -- Martin Luther King, civil rights leader
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CIF
Cost, Insurance, Freight
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